Welcome to our dedicated page for Hometrust Bancshares news (Ticker: HTBI), a resource for investors and traders seeking the latest updates and insights on Hometrust Bancshares stock.
HomeTrust Bancshares, Inc. (HTBI), the holding company for HomeTrust Bank, regularly issues news and updates that reflect its role as a regional, community-focused financial institution based in Asheville, North Carolina. This news page aggregates company press releases and third-party coverage so readers can review the latest information related to the bank’s operations, performance, and strategic decisions.
According to its public communications, HomeTrust Bancshares frequently reports quarterly and annual financial results, including net income, earnings per share, net interest margin, and provisions for credit losses under the current expected credit losses model. These earnings releases also discuss changes in loan and deposit balances, noninterest income categories such as service charges, gains on loan sales, bank owned life insurance income, and operating lease income, as well as trends in funding costs and asset yields.
News items also cover corporate actions and strategic initiatives. Examples disclosed by the company include the merger of Quantum Capital Corp. into HomeTrust Bancshares, adjustments to business lines such as ceasing indirect auto originations and right-sizing mortgage banking, restructurings of the bank owned life insurance portfolio, stock repurchase authorizations, and changes in the company’s fiscal year end. The bank has also announced recognition in external rankings, including S&P Global Market Intelligence’s Top 50 Community Banks list and Forbes’ America’s Best Banks list.
Readers can also find updates on leadership and technology, such as the appointment of a Director of Digital Strategy and a Chief Technology Officer, reflecting the bank’s focus on digital channels and technology infrastructure. Other releases address branch and market decisions, including a definitive agreement to sell two Knoxville, Tennessee branches, and the planned transfer of the company’s stock listing from NASDAQ under the ticker HTBI to the New York Stock Exchange under the symbol HTB.
Investors and followers of HTBI can use this news feed to review the company’s reported financial performance, strategic moves, market footprint developments, and technology and leadership announcements over time.
HomeTrust Bancshares (NASDAQ: HTBI) has completed a 5% stock repurchase program, buying back 851,004 shares at an average price of $22.83. Following this completion, the Board authorized an additional repurchase of up to 825,941 shares, reflecting continued confidence in shareholder value. This move is intended to enhance earnings per share and demonstrate commitment to returning capital to shareholders amidst ongoing market conditions.
HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced that C. Hunter Westbrook will become President and Chief Executive Officer of HomeTrust Bank on September 1, 2021. Westbrook, who has been with HomeTrust since 2012, aims to enhance growth and customer service. His promotion follows a profitability improvement plan that includes $10 million in expected pre-tax income from recent strategic changes like branch closures and in-house loan servicing. Currently, HomeTrust has consolidated assets of $3.6 billion, up from $1.5 billion in 2012.
HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced plans to enhance profitability through strategic actions, including the closure of nine bank branches and restructuring its balance sheet by prepaying long-term borrowings. The initiatives aim to generate an estimated annual pre-tax income increase of $10.1 million, with significant reductions in expenses and interest costs. The company expects a boost in return on assets, equity, and diluted earnings per share. Although the branch closures will incur a pre-tax charge of $1.5 million, overall, these moves are designed to improve operational efficiency and shareholder value.
HomeTrust Bancshares (NASDAQ: HTBI) reported third-quarter fiscal 2021 preliminary net income of $7.9 million, up from $1.2 million year-over-year. Diluted earnings per share reached $0.48 compared to $0.07 previously. The company's return on assets improved to 0.84% from 0.14%, while return on equity rose to 7.78% from 1.15%. Noninterest income surged 67.5% to $10.7 million. The board declared a quarterly cash dividend of $0.08 per share. Despite a 2.9% decline in total loans, total deposits increased by 4.4% to $2.9 billion.
The board of directors of HomeTrust Bancshares (NASDAQ: HTBI) announced Anna Marie Smith as the new Chief Human Resources Officer (CHRO) effective March 29, 2021. In her role, she will oversee diversity initiatives, employee engagement, and traditional HR functions. With over 25 years of experience, Smith previously worked at Wells Fargo and Forsyth Tech Community College. Chairman Dana Stonestreet expressed confidence in her ability to enhance employee engagement and satisfaction. HomeTrust Bancshares, with assets of $3.7 billion, operates over 40 locations across North Carolina, South Carolina, Tennessee, and Virginia.
HomeTrust Bancshares, Inc. (NASDAQ: HTBI) reported preliminary net income of $9.5 million for Q2 fiscal 2021, a slight increase from $9.2 million a year earlier. Diluted EPS rose to $0.57 from $0.52. The bank's ROA improved to 1.03%, and ROE rose to 9.41%. A net benefit of $3.0 million in credit loss provisions was noted, compared to a provision of $400,000 previously. Noninterest income increased by 3% to $9.3 million. The quarterly cash dividend was raised by 14.3% to $0.08 per share. Despite a strong performance in loan originations, ongoing challenges from COVID-19 and lower interest rates affected overall financial results.
HomeTrust Bancshares (NASDAQ: HTBI) announced preliminary financial results for Q1 FY2021, revealing net income of $5.8 million, down from $8.8 million year-over-year. Diluted EPS decreased to $0.35 from $0.49, with ROA at 0.62% and ROE at 5.74%. Despite a challenging economic environment due to COVID-19, noninterest income rose by 12.8% to $8.6 million. The company declared a quarterly dividend of $0.08 per share, marking a 14% increase. Loan growth was modest at $10.4 million, while the provision for credit losses was $950,000, reflecting ongoing COVID impact.
HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced that C. Hunter Westbrook has been appointed President and Chief Operating Officer of HomeTrust Bank, effective October 28, 2020. Westbrook, a banking veteran since 2012, has played a key role in expanding the bank's services from three to ten lines of business and its market presence across four states. Chairman Dana L. Stonestreet praised Westbrook's leadership in enhancing shareholder value and customer experience. The bank's total consolidated assets were reported at $3.7 billion as of June 30, 2020.
HomeTrust Bancshares has appointed Rebekah M. Lowe to its Board of Directors, effective September 1, 2020. Ms. Lowe, previously an Advisory Director since January 2020, has extensive banking experience, including serving as Regional President at Wachovia Bank. Her expertise includes leadership coaching and diversity development, which the company anticipates will enhance its strategic priorities. With total assets of $3.7 billion as of June 30, 2020, HomeTrust is the second-largest community bank in North Carolina.
HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced its annual stockholders' meeting scheduled for November 16, 2020. The meeting will take place at 10:00 a.m. at the Renaissance Hotel in Asheville, North Carolina. As of June 30, 2020, the company reported assets of $3.7 billion, positioning itself as the second-largest community bank in North Carolina. The press release also includes forward-looking statements emphasizing potential risks such as the impact of the COVID-19 pandemic on credit quality and business operations.
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